“Many of our customers will be using these life changing products to improve or adapt their homes or provide ‘living inheritance’ to their families.

“The lifetime mortgage market is flourishing and we expect to see further growth as customers continue to take advantage of all-time low rates and a constantly growing range of products that are becoming increasingly flexible over time.

“What people are realising is that your home doesn’t just have to be your castle — it is also a major part of retirement planning that unlocks options many didn’t realise they had.”